Refer to the Basis of Securities Sold discussion following Example 25 in Chapter 11. (Concepts in Federal Taxation, 2021th Edition, Murphy, Higgins, Skalberg)

You have always loved ABC Corp. and its wonderful products and so have been an investor in its stock for years. In fact whenever you could you added to your stockholdings in ABC, as follows:

• 11/2016 100 shares at $18 per share (initial purchase)
• 04/2017 100 shares at $22 per share
• 12/2017 100 shares at $24 per share
• 06/2018 100 shares at $25 per share
• 09/2019 100 shares at $29 per share

Needing cash for a down payment on a new house, today you sold 250 shares at $36 per share. But, distracted by the wonderful new home that you are about to own, you forgot to instruct your online broker exactly which shares you were sell-ing. What is the amount and character of your gain on todays sale?